Invesco India ETF (NYSEARCA:PIN) Trading Up 0.8% – Time to Buy?

Invesco India ETF (NYSEARCA:PIN)’s share price rose 0.8% during mid-day trading on Tuesday . The stock traded as high as $20.72 and last traded at $20.61. Approximately 23,891 shares traded hands during trading, a decline of 52% from the average session volume of 50,088 shares. The stock had previously closed at $20.4393.

Invesco India ETF Stock Up 0.8%

The stock has a fifty day simple moving average of $20.61 and a 200-day simple moving average of $20.84. The company has a market capitalization of $156.43 million, a P/E ratio of 26.32 and a beta of 0.47.

Hedge Funds Weigh In On Invesco India ETF

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Northwestern Mutual Wealth Management Co. increased its holdings in shares of Invesco India ETF by 2,376.7% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 85,497 shares of the company’s stock worth $2,078,000 after buying an additional 82,045 shares in the last quarter. Cetera Investment Advisers boosted its holdings in shares of Invesco India ETF by 8.4% in the 1st quarter. Cetera Investment Advisers now owns 73,686 shares of the company’s stock worth $1,767,000 after acquiring an additional 5,686 shares in the last quarter. Weatherly Asset Management L. P. grew its position in Invesco India ETF by 17.8% during the 1st quarter. Weatherly Asset Management L. P. now owns 38,866 shares of the company’s stock worth $932,000 after acquiring an additional 5,865 shares during the last quarter. Private Advisor Group LLC grew its position in Invesco India ETF by 4.8% during the 1st quarter. Private Advisor Group LLC now owns 31,868 shares of the company’s stock worth $764,000 after acquiring an additional 1,446 shares during the last quarter. Finally, Clare Market Investments LLC acquired a new stake in Invesco India ETF during the 1st quarter valued at $625,000. 40.83% of the stock is currently owned by institutional investors and hedge funds.

Invesco India ETF Company Profile

PowerShares India Portfolio (the Fund) is based on the Indus India Index (Index). The Fund seeks to achieve its investment objective by investing substantially all of its assets in a wholly-owned subsidiary located in the Republic of Mauritius (the Subsidiary), which in turn invests at least 90% of its total assets in securities of Indian companies that consists of the Index, as well as American depositary receipts(ADR) and global depositary receipts (GDR) based on the securities in the Index. The Index is designed to represent the segment of the Indian equity markets.